AUBURN HILLS (WWJ) — Auburn Hills-based Munetrix, a provider of financial transparency data for municipality and local school districts in Michigan, and the Municipal Advisory Council of Michigan, the information and service organization for businesses involved in the municipal bond industry, today announced a data sharing agreement.
Munetrix has created the Munetrix-School and Municipal Edition Investor Report from their online financial data and transparency reporting system that provides data and fiscal measurements including a financial health indication scorecard of school district and municipal information. The report has been built specifically to serve as a quick reference document and to act as a summary of a community’s most recent audited financial information.
The MAC has prepared the MAC Debt Statement Report which provides Munetrix customers with summary data relative to outstanding debt whether direct, indirect or overlapping, presented on a per capita and percentage of taxable value. Making the combined information available to members and customers of the two organizations presents a meaningful view of municipality and school district financial status.
“This joint effort will provide MAC members with a summary of current financial information as a supplement to the debt information we maintain,” said Jim Bickley, MAC director. “We offer a view of the debt side of the equation while Munetrix provides income, expense and balance sheet information, along with a calculation of a standardized fiscal score. This aids in evaluating the general health of a community.”
Added Bob Kittle, president and CEO of Munetrix: “Our agreement with the MAC is another value-add to our database and provides Munetrix customers and MAC members the ability to get quicker access to otherwise difficult-to-locate information. The model we have created in this joint effort could mark the beginning of finally getting arms around the real elephant in the room: the debt load and liability burden facing so many local government entities in the future.”